Bureau of Labor Statistics overstated job growth by over 500,000 2018-19

Can you post that Barney Frank memo again, so everyone else can review the Congressional Record on those couple laws he cited.

 

Trump did it again. This is surreal.

President Donald Trump appears to have sent the stock market into a dive with a few flicks of his fingers, as the Dow Jones Industrial Average plunged over 200 points in just five minutes following a series of unhinged tweets attacking China and Federal Reserve Chairman Jerome Powell.

At 10:57 Friday morning, Trump posted a tweet in which he asked “who is our bigger enemy, Jay Powell or Chairman Xi?”

Then two minutes later, Trump posted a series of tweets ranting against China in which he said, among other things, that “We don’t need China and, frankly, would be far better off without them,” and that American companies are “hereby ordered to immediately start looking for an alternative to China.”


https://www.mediaite.com/news/stock...5-minutes-after-trumps-stunning-china-tweets/

We are reminded that Putin wanted this man to become our President. No doubt, Putin is quite happy with his choice.

 

Again? I’ve never posted a memo from him. I gave you a list of every single bill proposed to regulate fanny/Freddy from 2001-2007. And the voting record showing republicans killed every single one of them.

 

White flag noted.

 

Proving you wrong isn’t a white flag. It’s refuting your assertion. But you knew that.

 

Show me proof.

 

Still waiting on that Barney and Friend's memo

 

Meanwhile, the stock market is up over 5,800 points since January 20, 2017.

You were saying?

 

Futures were up more than 100 points before China indicated that they were imposing tariffs on over 5,000 US import items. There is no doubt this announcement was coordinated with Powell's Jackson Hole speech. Markets quickly began to decline after Powell did not announce a rate cut.

Rate cuts are not needed now. Our economy at this time remains very stable but probably on the downward side of a normal business cycle. Markets can easily be spooked and typically don't do well in August or September. This does not mean we are entering a recession, far from it. It would have been best if Trump had said nothing. His response to China should have been predicted. Investors that don't have the stomach should keep their savings under a mattress. Congress should get off their dead asses and pass the NAFTA 2.0 trade deal. Trump should back off on China for now and only deal with them right before the election.

 

These are final results of our day on Wall Street. Trump's precipitated drop on stocks is far worse than earlier. The Dow ended up off 623 points, reducing the Dow to 25,629. that is 81 points below March 15 when Trump started his trade war with China. The Nasdaq was off 240 points and the S&P 76.

What does all that mean? Because of Trump's tweets today, for the fourth time in a month, he cost millions of Americans to permanently lose principle in their retirement investment accounts. There are many doubters of that statement, but here is how that works.

It is really quite simple. It is 4th grade math.

An IRA has $100,000 dollars in it. Because of Trump's announcement the account loses $5,000. So now the account is down to $95,000. Follow me so far?

Due to market changes, at some point the account gains $5,000. So now the account is back up to $100,000. So, the account didn't lose money. Right?

WRONG! If the account had not lost the money in the first place, when market changes caused it to gain $5,000, the account would have $105,000 in it, not $100,000. The $5,000 lost because of Trump is permanent.

Sorry about that. I mean it. I lost, too, but I'm mostly in bonds. Too old to gamble.

Now I know what some are going to say. Some will say that is ridiculous or something similar. Some will lecture me on the stock market and investing. But no will be able to tell me why the 4th grade math is ridiculous or something similar. That's because the 4th grade math is right on.

Some will say, "Nothing is permanent until it is sold." That argument is made to counter selling stocks because of a downward trend. It has nothing to do with loss of principle, which is what I am talking about.

Thank you Mr. President. I look forward to your next tweet. Praise the Lord. It is the weekend. Trump can't do anymore damage until Monday.

 

Trump just made matters far worse. To him, this is a zero sum game. He simply doesn't care.




Donald J. Trump ✔ @realDonaldTrump


Replying to @realDonaldTrump
...unfair Trading Relationship. China should not have put new Tariffs on 75 BILLION DOLLARS of United States product (politically motivated!). Starting on October 1st, the 250 BILLION DOLLARS of goods and products from China, currently being taxed at 25%, will be taxed at 30%...



Donald J. Trump ✔ @realDonaldTrump


Replying to @realDonaldTrump
...Additionally, the remaining 300 BILLION DOLLARS of goods and products from China, that was being taxed from September 1st at 10%, will now be taxed at 15%. Thank you for your attention to this matter!

Did Trump forget he postponed the September 1st tariffs until December 15th?

If he imposes what now is a 15% tariff on popular goods like computers, cellphones, sporting gear, clothing, tennis shoes, etc. Trump can kiss his reelection goodby along with several Republican Senators and representatives.

Trump waited until the market closed before sending those tweets.

 

I notice you are writing to yourself again. You might think about getting a real job.

 

Why? I gave you the voting record instead.

 

The market is up 12,630 since August 31, 2012. What is your point?

This is my point.

These are final results of our day on Wall Street. Trump's precipitated drop on stocks is far worse than earlier. The Dow ended up off 623 points, reducing the Dow to 25,629. that is 81 points below March 15 when Trump started his trade war with China. The Nasdaq was off 240 points and the S&P 76.

What does all that mean? Because of Trump's tweets today, for the fourth time in a month, he cost millions of Americans to permanently lose principle in their retirement investment accounts. There are many doubters of that statement, but here is how that works.

It is really quite simple. It is 4th grade math.

An IRA has $100,000 dollars in it. Because of Trump's announcement the account loses $5,000. So now the account is down to $95,000. Follow me so far?

Due to market changes, at some point the account gains $5,000. So now the account is back up to $100,000. So, the account didn't lose money. Right?

WRONG! If the account had not lost the money in the first place, when market changes caused it to gain $5,000, the account would have $105,000 in it, not $100,000. The $5,000 lost because of Trump is permanent.

Sorry about that. I mean it. I lost, too, but I'm mostly in bonds. Too old to gamble.

Now I know what some are going to say. Some will say that is ridiculous or something similar. Some will lecture me on the stock market and investing. But no will be able to tell me why the 4th grade math is ridiculous or something similar. That's because the 4th grade math is right on.

Some will say, "Nothing is permanent until it is sold." That argument is made to counter selling stocks because of a downward trend. It has nothing to do with loss of principle, which is what I am talking about.

Thank you Mr. President. I look forward to your next tweet. Praise the Lord. It is the weekend. Trump can't do anymore damage until Monday.

 

I am not sure who you are talking to because didn't use the quote function.

However, if it is me, that is because posts are related (clever, huh!) and the fact that Trump's supporters are not supporting Trump. They are ignoring reality.

Beats me why they support a man they can't defend.

 

The DOW dropped hundreds of points numerous times throughout the Obama Presidency, yet I don't remember you making a big deal about it.

 

This person doesn't appear have the knowledge or stomach for investing. If only invested in Bonds in a low inflation environment he/she didn't lose much if anything in Friday's market blip. Conversely, little was gained either. Cheering for a recession is the fastest and about the only way for fixed interest rate (or even variable rate) bonds to lose money due to risk of higher inflation during recessions. I'm not going to debate a low risk adverse person's investment strategy except to say that a more diversified portfolio of both stocks and bonds is not gambling. All investments have risk.

"WRONG! If the account had not lost the money in the first place, when market changes caused it to gain $5,000, the account would have $105,000 in it, not $100,000. The $5,000 lost because of Trump is permanent."

The above statement is what is wrong. Money invested in stocks is never permanent. Market prices of stocks fluctuate every day. Investors portfolios can easily recover from market corrections and normally will over time, provided the company invested in doesn't go bankrupt. The surest way for that to happen is also by ignorant people cheering for a recession.

 

You provided a memo from Barney. Even then you didn’t take the opportunity to check the congressional records of the laws he cited that further show just how the left killed those particular pieces of legislation

 

You mean retraining for coal miners?

 

A memo from Barney isn’t the voting record

 

Proven false

 

I didn’t give you a memo, as you are well aware.

 

Yeah you did...geez you don’t even know what you post

You have repeatedly post a memo from the Committee he was chairing...and you have never even bothered to actually review the Congessional Record of the few bills he cited

 

Proven false

 

Trumps trillion dollar tax break is not bring in the promised jobs. The rate of job growth over '17-19 is actually slower than the last 30 months of Obama, despite the 1 trill dollar stimulus package. The budget deficit is now almost double what is was under Obama. 550 bill and now 975 bill.

I remember when Republicans used to run on a balanced budget, last seen under slick willie.